Key Highlights:
-Foreigners can now own 100% of fund management company in wholesale and up to 70% (previous 49%) for retail segment
-Foreign limit for local broking firms increased to 70% from 49%
-FIC guideline covering the acquisition of equity stakes, merger and takeover is repealed, without any new guideline in its place
-No more requirement to staisfy the public shareholding spread of 25% and the 30% bumi equiy condition for new listing on bursa
-New guideline - require companies seeking listing to offer 50% of the public shareholding spread to Bumi investors
-Post listing fund raising exercise will no longer be subject to any equity condition
-FIC rules will still apply for properties >RM20m and and which involves a dilution of bumi interest
-set-up a RM10b private equity fund to invest in high growth sectors possibly in partnership the with private sector
From: UOBKayHian
Share and Enjoy!-Foreigners can now own 100% of fund management company in wholesale and up to 70% (previous 49%) for retail segment
-Foreign limit for local broking firms increased to 70% from 49%
-FIC guideline covering the acquisition of equity stakes, merger and takeover is repealed, without any new guideline in its place
-No more requirement to staisfy the public shareholding spread of 25% and the 30% bumi equiy condition for new listing on bursa
-New guideline - require companies seeking listing to offer 50% of the public shareholding spread to Bumi investors
-Post listing fund raising exercise will no longer be subject to any equity condition
-FIC rules will still apply for properties >RM20m and and which involves a dilution of bumi interest
-set-up a RM10b private equity fund to invest in high growth sectors possibly in partnership the with private sector
From: UOBKayHian
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